The panel set up by Kemi Adeosun, minister of finance, to probe the allegations of corruption levelled against Mounir Gwarzo, suspended director-general of the Securities and Exchange Commission (SEC), has recommended his dismissal from public service.

The panel headed by Mahmoud Isa-Dutse, permanent secretary of the finance ministry, has also asked Gwarzo to refund the N104,851,154 severance package he approved for himself.

It said Gwarzo, his family members and certain directors of the commission were shareholders and directors in companies “used to carry out illegal transactions”.

Details of the “illegality” were stated, with at least four different accounts said to be traced to him.

When Adeosun suspended Gwarzo, he accused her of punishing him because he failed to stop the audit of Oando as requested by the minister.

At the hearing of the legislative panel on Tuesday, Gwarzo insisted that the Oando audit made the minister move against him, an allegation she denied.

Defending his suspension, Adeosun said: “it’s not every time that government officials should be removed from office after they had been arrested”.

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